| Investment Objective: |
The Fund intends to pursue its investment objective by investing, under normal circumstances, at least 80% of its assets in investment grade-rated collateralized loan obligations ("CLOs") and in derivatives and other instruments that have economic characteristics and provide investment exposure similar to investment grade-rated CLOs. A CLO is a trust or other special purpose vehicle that issues primarily floating-rate, and sometimes fixed-rate, debt securities that are typically collateralized by a pool of loans, which may include domestic and foreign senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans. The underlying loans are selected by a CLO's manager. Investment grade CLO debt securities are rated at the time of purchase in the top four long-term rating categories by a nationally recognized statistical rating organization such as S&P Global Ratings (rated BBB- or better) or Moody's Investors Service (rated Baa3 or higher) or, if unrated, determined by Guggenheim Partners Investment Management, LLC, also known as Guggenheim Investments (the "Investment Manager"), to be of comparable quality. The Fund may invest in CLO securities of any maturity. |
